Technical analysis by EL_STOCKTROOPER about Symbol ETH: Buy recommendation (1/7/2025)

As observed, ETH has been rallying since the beginning of November 2024, starting from the breakout at $2800 and rising all the way to $4090.It encountered resistance at the March 2024 level and retraced.After consolidating for weeks within the $3200 - $3600 range, the price has recently broken above $3600 and recovered above the 20 and 50 MAs.It seems the market has built new momentum and is now poised to test the $4090 level, with the potential to break above it